COPENHAGEN — Danish brewer Carlsberg said Wednesday that its first-quarter net profit dropped to 44 million kroner (7.6 million dollars) as higher beer taxes in its key Russian market resulted in lower stocks.

Net profit in the corresponding 2011 business period was 261 million kroner.

Sales in the quarter were 12.9 billion kroner, compared to 12.5 billion kroner in 2011.

The company said its sales of beer were solid in northern and western Europe and strong in Asia, while they fell in eastern Europe partly due to the destocking in Russia as consumers have stockpiled beer prior to the tax hikes.

The brewer said it had anticipated that development in Russia.

During the quarter it had a 37 per cent market share in Russia, a slight increase on fourth-quarter 2011.

The upcoming European football championships, where the group is a sponsor, was seen as an opportunity to boost sales, chief executive Jorgen Buhl Rasmussen said.